President Donald Trump is tightening the screws on Moscow in his effort to end the long-running Russia-Ukraine war. The administration rolled out a new wave of sanctions targeting the heart of Russia’s energy empire, a move Trump hopes will choke off war funding and push Vladimir Putin toward peace.

Trump released a statement from the Treasury Department announcing that two of Russia’s biggest oil giants — Open Joint Stock Company Rosneft Oil and Lukoil OAO — are being sanctioned under Executive Order 14024. Both companies, along with their subsidiaries and any entities they control by more than 50 percent, are now blocked from U.S. markets.

“Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing further sanctions as a result of Russia’s lack of serious commitment to a peace process to end the war in Ukraine,” the release said.

The order prohibits all transactions and freezes property linked to these firms that fall under U.S. control. It also warns that any foreign banks helping Russia’s military-industrial system could face penalties of their own.

“Today’s actions increase pressure on Russia’s energy sector and degrade the Kremlin’s ability to raise revenue for its war machine and support its weakened economy,” the Treasury statement continued.

Treasury Secretary Scott Bessent backed the move, saying it was time for firm action.

“Now is the time to stop the killing and for an immediate ceasefire,” Bessent said. “Given President Putin’s refusal to end this senseless war, Treasury is sanctioning Russia’s two largest oil companies that fund the Kremlin’s war machine.”

He added that the administration would not hesitate to go further if needed.

“Treasury is prepared to take further action if necessary to support President Trump’s effort to end yet another war. We encourage our allies to join us in and adhere to these sanctions,” Bessent said.

At the White House, Trump met with NATO Secretary General Mark Rutte and described the sanctions as some of the strongest yet.

“These are tremendous sanctions,” Trump said.

He paused before adding, “And we hope that they won’t be on for long. We hope that the war will be settled.”

Behind the scenes, Trump officials said the move is part of a larger plan to combine economic pressure with diplomacy. The administration has been exploring new tariffs and trade measures to limit Russia’s reach while still keeping key allies close.

Trump’s approach has drawn both praise and skepticism overseas. Supporters say it’s a return to peace-through-strength — the kind of decisive action that gets results. Critics warn that squeezing Russia too hard could risk retaliation or strain markets, especially in Europe.

Still, Trump seems undeterred. Since returning to office, he’s made ending the war a cornerstone of his foreign policy. Earlier this year, he hit India with a 25 percent tariff over its purchases of Russian oil — a clear sign he’s willing to take on anyone funding Putin’s war effort.

The administration’s latest measures are designed to block billions in potential revenue for Russia and keep pressure on until peace talks begin. For now, Trump appears ready to keep turning the screws until the Kremlin starts listening.